TRG Wind managing director David Elcombe, who recently relocated to Hull
East Riding of Yorkshire is continuing to ride the city of culture wave after seeing the number of companies starting up in the region rise significantly over the past year.
East Riding of Yorkshire Council has welcomed the news that the area is enjoying somewhat of an entrepreneurial renaissance after figures showed an increase in the number of new businesses registering in the region.
According to statistics from the Inform Direct Review of UK Company Formations, using data from Companies House and the Office of National Statistics, a total of 4,080 new businesses were registered in the county, compared with 2,697 in 2015 - with East Riding being responsible for 2,656 of those.
As one of the area’s main economic drivers, the council is keen to support businesses looking to set up, relocate and grow in the East Riding in order to create jobs and boost the local economy.
Cllr Stephen Parnaby OBE, leader of East Riding of Yorkshire Council, said: “These figures are very encouraging and demonstrate clearly that the East Riding is open for business, providing the perfect location for businesses to start up and thrive.
“Supporting the local economy is a top priority for this council and our business investment and tourism services team provide free and confidential advice and guidance to any East Riding resident who is considering starting a business or to any existing business based in the East Riding. Support is also available for companies looking to locate to the area.
“It is very pleasing that more small-and-medium-sized enterprises (SMEs) are being established in the East Riding as these are the lifeblood of our local economy.”
A Humberside entrepreneur who launched a wealth management firm in London is just one of the people who have helped buck the trend after returning to his hometown to open a second office in Hull last year.
Wealth management firm Vobis has worked with some of the biggest names in sport and entertainment since its launch in 2009. Co-founder Marc Hackney cut his teeth with Ernst and Young in Hull before he headed to London to build an A-list client base, he vowed he would never return.
He started his own wealth management business in 2007 and two years later set up Vobis Limited in partnership with Richard Stott, the company's executive director. Now, Hackney has used the contacts developed from his own background in Hull and from The Deep Business Centre's network to move Vobis’ entire supply chain to East Yorkshire.
“Whilst at the London office I was commuting and spending part of the week working from home for around a year,” he said. “You only realise how much it has taken out of you when you stop. The office in London is expensive and I decided to take the back-office functions to Hull.”
“When I left the city was so depressed but I came back to find it really vibrant. When I came back it was the best thing I ever did.”
Another business which has recently relocated to the region is TRG Wind, a fast-growing wind turbine support company which has moved to the Humber to capitalise on the region’s booming renewable energy sector.
The company was formed by individuals who brought together experience in onshore and offshore wind in partnership with specialists from the finance and recruitment sectors.
From a handful of people based in Bromley the business has since expanded to build a team of nearly 40, two of whom have set up the Hull operation.
Managing director David Elcombe said: “Hull’s port facilities were a big factor in our decision to come here, as was the presence of the growing renewables sector. Added to that, a lot of people round here have worked offshore, which makes it less of a stretch for them to work in our business.”
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